Arizona Enacts Its First Cryptocurrency Reserve Law, Following New Hampshire

On the 8th, the Arizona State Legislature passed the 'HB2749' Cryptocurrency Reserve Law bill, which allows the state to hold assets such as Bitcoin (BTC) as reserves. The bill allows for the transfer of unclaimed assets, airdrops, and staking rewards managed by the state to the state-managed reserve (reserve) account, but prohibits the investment activity of purchasing Bitcoin with new state funds.

Last Friday, the state's Governor Hobbs exercised his veto power once on another bill 'SB1025' that would allow the state to purchase Bitcoin, and whether Arizona will officially allow the direct purchase of Bitcoin in the future is still pending with the unsigned bill 'SB1373...